1113 W 11th Ave · Gary, IN 46407

$75,000

3 bd · 2.0 ba · 2,406 sqft · SingleFamily public records · 75 Days on market

Built 1926 3,006 sqft lot $31/sqft · 90% above area

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks MLS

GREAT OPPORTUNITY FOR A FIX AND FLIP OR BUY AND HOLD! This 2 unit brick building offers 4 bedrooms per unit. Recent Sales have sold for 218,000 & 250,000 - So plenty of room to renovate and still make a profit. Schedule your showing today!

Key facts

• 3,006 sq ft lot
• Built 1926
• Listed 74 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 9.1% in Gary — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#105 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Gary Community School Corporation (urban): math 3% / reading 11% proficiency, ranked #299 of 301 in IN (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 121 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $1,519/mo this rent would consume 64% of the median local household income ($29k/yr) (locally 392% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $1k of equity ($519 loan paydown + $735 appreciation (1.0% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $37k; list at $75k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.02% ✓
• Cap rate: 18.02%
• Cash-on-cash: 41.88%
• DSCR: 2.86
• GRM: 4.1

CMA / ARV

• ARV (median comp): $39,542
• List price: $75,000
• Delta: 89.67%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1109 W 11th Ave	0.01mi	3/1.0	2,382 (-1%)	1mo	$32,500	$14	93
1474 W 18th Ave	0.51mi	4/1.5 (+1)	2,470 (+3%)	2mo	$14,000	$6	64
604 Harrison St	0.60mi	4/2.0 (+1)	2,294 (-5%)	6mo	$156,000	$68	54
642 Fillmore St	0.51mi	4/2.0 (+1)	2,230 (-7%)	6mo	$220,000	$99	54
615 Lincoln St	0.56mi	4/3.0 (+1)	2,325 (-3%)	8mo	$275,000	$118	52
725 Polk St	0.42mi	3/3.5	2,174 (-10%)	9mo	$185,000	$85	51
809 Hayes St	0.47mi	4/2.0 (+1)	2,184 (-9%)	10mo	$193,000	$88	49
1384 Roosevelt St	0.72mi	4/2.0 (+1)	2,500 (+4%)	8mo	$197,500	$79	48
1741 Cleveland St	0.68mi	3/1.0	2,214 (-8%)	9mo	$110,000	$50	44
1956 W 14th Ave	0.55mi	3/2.0	2,050 (-15%)	7mo	$158,400	$77	44
571 Van Buren St	0.66mi	4/2.5 (+1)	2,145 (-11%)	6mo	$190,000	$89	39
634 Johnson St	0.55mi	4/3.5 (+1)	2,662 (+11%)	10mo	$250,000	$94	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.4%
• Equity multiple: 3.29×
• Total profit: $47,993
• Equity at exit: $25,524

10-year hold

• IRR: 46.2%
• Equity multiple: 6.52×
• Total profit: $115,849
• Equity at exit: $33,858

Cash invested: $21,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46407

• Home prices YoY: 0.4%
• Active inventory: 121
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,519 high
• Mortgage (P&I): −$393
• Tax from tax record: −$42 /mo · $507/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $733

Break-even live

Break-even rent $591

Max offer price $75,000

Occupancy floor 47%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
803 Pierce St Gary, IN	4.0	2.0	1600	$1,400	$0.88	1d	1	0.30mi
1744 Tyler St Unit 2 Gary, IN	4.0	2.0	1600	$1,700	$1.06	44d	1	0.50mi
765 Garfield St Gary, IN	3.0	1.0	1688	$1,500	$0.89	13d	1	0.54mi
1109 Maryland St Unit 1 Gary, IN	3.0	1.5	1982	$1,000	$0.50	1d	1	1.05mi
1109 Maryland St Gary, IN	3.0	1.0	1982	$1,000	$0.50	1d	1	1.05mi
373 Taft Pl Gary, IN	4.0	2.0	1984	$1,800	$0.91	43d	1	1.14mi
1348 Waite St Gary, IN	4.0	2.0	1776	$1,850	$1.04	1d	1	1.37mi
1368 Waite St Gary, IN	3.0	2.0	1696	$1,800	$1.06	1d	1	1.37mi
2157 Marshall Pl Gary, IN	3.0	1.5	1650	$1,295	$0.78	43d	1	1.38mi
2600 Pierce St Gary, IN	4.0	2.0	1800	$1,950	$1.08	43d	1	1.38mi

Listing history 32 events

1. 2026-06-18
   days on market $75,000 Active 75 DOM
2. 2026-06-17
   days on market $75,000 Active 74 DOM
3. 2026-06-16
   days on market $75,000 Active 73 DOM
4. 2026-06-15
   days on market $75,000 Active 72 DOM
5. 2026-06-13
   days on market $75,000 Active 70 DOM
6. 2026-06-13
   days on market $75,000 Active 69 DOM
7. 2026-06-09
   days on market $75,000 Active 66 DOM
8. 2026-06-08
   days on market $75,000 Active 65 DOM
9. 2026-06-07
   days on market $75,000 Active 64 DOM
10. 2026-06-04
    days on market $75,000 Active 61 DOM
11. 2026-06-03
    days on market $75,000 Active 60 DOM
12. 2026-06-02
    days on market $75,000 Active 59 DOM
13. 2026-06-01
    days on market $75,000 Active 58 DOM
14. 2026-05-31
    days on market $75,000 Active 57 DOM
15. 2026-04-03
    listed $75,000 Active 246-char remark

    Show marketing remark (246 chars)

    GREAT OPPORTUNITY FOR A FIX AND FLIP OR BUY AND HOLD! This 2 unit brick building offers 4 bedrooms per unit. Recent Sales have sold for 218,000 & 250,000 - So plenty of room to renovate and still make a profit. Schedule your showing today!

16. 2024-12-09
    soldstatus $37,000 Closed 199-char remark

    Show marketing remark (199 chars)

    2 Unit Property, each unit has its own access. Property need work but could be nice rental income investments. It is conveniently located close to expressways, and local shopping centers. Sold As-Is.

17. 2024-11-26
    status Pending 199-char remark

    Show marketing remark (199 chars)

    2 Unit Property, each unit has its own access. Property need work but could be nice rental income investments. It is conveniently located close to expressways, and local shopping centers. Sold As-Is.

18. 2024-11-12
    listed $39,500 Active 199-char remark

    Show marketing remark (199 chars)

    2 Unit Property, each unit has its own access. Property need work but could be nice rental income investments. It is conveniently located close to expressways, and local shopping centers. Sold As-Is.

19. 2024-02-17
    historical
20. 2023-07-09
    status Active
21. 2023-06-21
    status Pending
22. 2023-05-31
    status Active
23. 2023-05-30
    historical Active Under Contract
24. 2023-05-30
    price $39,999
25. 2023-04-26
    status Pending
26. 2023-02-16
    listed $34,999 Active
27. 2022-06-28
    soldstatus $25,000 Closed
28. 2022-03-11
    status Pending
29. 2022-02-27
    listed $24,900 Active
30. 2005-10-14
    listed $16,500
31. 2005-10-04
    historical
32. 2005-07-05
    listed $25,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $507 · $42/mo
• Projected year-2 tax: $572 · $48/mo
• Expected delta: +$65/yr (+$5/mo · 12.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,223
• − Mortgage interest: −$4,201
• − Property taxes: −$507
• − Insurance: −$375
• − Repairs & maintenance: −$1,458
• − Management: −$1,458
• − Depreciation: −$2,182
• Taxable income: $8,042
• Est. tax owed @ 24.0%: −$1,930
• After-tax cash flow: $6,864/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Gary Community School Corporation
• NCES district ID: 1803870
• Math proficiency: 3% ▼ -10.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $27,739
• Composite: 4.98/100
• National rank: #10039
• State rank: #299 of 301 in IN

Livability — Gary

• Score: 73/100
• State rank: #105
• US rank: #5592

Category grades

Amenities C+ Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety B- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gary, IN
• County: Lake County · 422,878 people
• City population: 63,701
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 8,577
• Household income: $28,526
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 392.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 484,026 people
• By 2030: 478,091 · -1.2%
• By 2040: 462,974 · -4.3%
• By 2050: 449,894 · -7.1%
• By 2075: 436,169 · -9.9%
• By 2100: 426,607 · -11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 3% White 2% Two or more races 1%
• Common ancestry: Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Lake

• 2024 margin: Lean D (+5.6) · D 52.1% · R 46.5% · Other 1.5%
• 2008→2024 swing: -28.6pp toward R · 2008: 34.3pp · 2024: 5.6pp
• All cycles: 2024: D+5.6 2020: D+15.1 2016: D+20.6 2012: D+31.0 2008: D+34.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.98%
• Current HPI: 253.2856
• Rent YoY: —
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+194.1% since first listed

18 events — show timeline

• 2026-04-03 Listed $75,000 NIRA MLS as Distributed by MLS Grid
• 2024-12-09 Sold (MLS) $37,000 NIRA MLS as Distributed by MLS Grid
• 2024-11-26 Pending — NIRA MLS as Distributed by MLS Grid
• 2024-11-12 Listed $39,500 NIRA MLS as Distributed by MLS Grid
• 2024-02-17 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2023-07-09 Relisted — NIRA MLS as Distributed by MLS Grid
• 2023-06-21 Pending — NIRA MLS as Distributed by MLS Grid
• 2023-05-31 Relisted — NIRA MLS as Distributed by MLS Grid
• 2023-05-30 Contingent — NIRA MLS as Distributed by MLS Grid
• 2023-05-30 Price Changed $39,999 NIRA MLS as Distributed by MLS Grid
• 2023-04-26 Pending — NIRA MLS as Distributed by MLS Grid
• 2023-02-16 Listed $34,999 NIRA MLS as Distributed by MLS Grid
• 2022-06-28 Sold (MLS) $25,000 NIRA MLS as Distributed by MLS Grid
• 2022-03-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-02-27 Listed $24,900 NIRA MLS as Distributed by MLS Grid
• 2005-10-14 Listed $16,500 NIRA MLS as Distributed by MLS Grid
• 2005-10-04 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2005-07-05 Listed $25,500 NIRA MLS as Distributed by MLS Grid

Property tax history

-13.2%/yr

Latest (2024): $507 · -54.3% YoY. Source: county tax records.